Shikong Technology 2026 Interim Report: Pivoting to Semiconductor Storage, Narrowing Losses but Cash Flow Under Pressure

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โดย 于夜间经济和智慧城市两大板块·CN·Read original
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Shikong Technology released its 2026 interim report. The company is leveraging the dual drivers of the nighttime economy and smart cities while accelerating a strategic transformation into the semiconductor storage sector. During the reporting period, losses narrowed, but operating cash flow turned negative due to procurement spending for the new trade business. The company achieved operating revenue of 122 million yuan, down 14.78 percent year on year. Net profit attributable to the parent company was negative 29 million yuan, compared with negative 66 million yuan in the same period last year, a significant narrowing of losses. Net profit after deducting non-recurring items was negative 37 million yuan, also reflecting reduced losses. Net cash flow from operating activities was negative 154 million yuan, a sharp swing into net outflow from 80 million yuan in the same period last year, mainly because of the time lag between procurement payments and sales collections in the storage-related trade business. Total assets rose to 1.745 billion yuan, but cash and cash equivalents fell to 152 million yuan, a decline of 52.52 percent. In terms of business structure, nighttime economy revenue was 52 million yuan, down year on year. Smart city revenue was 64 million yuan, of which smart parking operation revenue was 55 million yuan, achieving year-on-year growth. The newly added storage-related trade business contributed about 7 million yuan in revenue, marking the initial landing of a second growth curve. The narrowing of losses was mainly due to settlements and collection breakthroughs on some long-dated projects, with previously recognized credit impairment losses and asset impairment losses reversed, bringing a total profit improvement of about 80 million yuan. However, administrative expenses rose 25.94 percent year on year, further squeezing profits. The main risks facing the company are uncertainty in accounts receivable recovery and working capital pressure from investment in the new business. The semiconductor storage industry is cyclical, and the effectiveness of integration and the release of production capacity still need time to be verified.

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